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Income from real estate business

Vignesh Krishnan (Article Assistant) (106 Points)

04 January 2016

Dear Members, Whether Income from real estate business treated as Business Income or Capital Gains

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2 Replies

Ankit Taprania (CA FINAL ) (542 Points)
Replied 04 January 2016

IN REAL ESTATES flats are maintained as STOCK IN TRADE .

therefore its is a business income.

VIKAS.A (SOMETHING IS BETTER THAN NOTHING) (1095 Points)
Replied 04 January 2016

If the income is on sale of assets it has to be trated as Income from Business or Profession, But if Income is on account of rent which are in Stock-in-Trade, then such rental income has to be treated under Income from House Property.(CASE LAW: Azimganj Estate (P) Ltd vs CIT(2013))